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Mortgage holders' dissatisfaction with the major banks is likely to grow if the majors continue their policy of not passing on rate cuts in full, or if they raise them independently of any future RBA cash rate changes. By contrast, the satisfaction of non-home loan customers is not affected by banks' reactions to RBA rate decisions.
New banking customer satisfaction figures compiled by researchers Roy Morgan found that while consumers’ satisfaction with the big four banks remained unchanged at 78.4% as of December 2012 – the highest it has been for figures going back to 1996 – satisfaction among home loan consumers sits well below that at 72.9%.
Westpac has the biggest customer satisfaction divide between its home loan and non-home loan customers, of 7.9 percentage points.
According to Roy Morgan, over the past 12 months, satisfaction among customers with home loans has fallen further behind other customers despite five interest rate drops.
Following the last RBA cash rate cut in December of 25 basis points, all the major banks passed on 20 basis points.
At least one more rate cut is expected in 2013, according to the most recent <a target="_blank" href="/news">Bloomberg survey of 28 economists.</a>
Click to enlarge
<a href="/images/stories/2013/02/roymorganfeb5.gif" rel="shadowbox" title="Click to enlarge"><img src="/images/stories/2013/02/roymorganfeb5thumb.gif"></a>
On an overall basis NAB has the highest customer satisfaction rating of 79.8%, followed by the Commonwealth Bank (79.7%), then Westpac (76.8%) and ANZ (76%).
These figures are still well behind the new mutual banks, with a satisfaction rating of 91.6%. This sector is made up of ME Bank, Heritage Bank, MECU Limited, QT Mutual Bank, Teachers Mutual Bank and Victoria Teachers. Building societies have a satisfaction rating of 90.2%, and credit unions 89%.
“The extensive publicity being given in 2012 to banks not passing on the full reduction in the cash rate is likely to have impacted adversely on home loan customers, as the gap in satisfaction at the start of the year was much less,” says Norman Morris, industry communications director at Roy Morgan Research,
“A reduction in the loan rate would normally be expected to be seen as a positive by borrowers unless it is perceived to be less that it should. “The increase in non-home loan customer satisfaction over the year is somewhat surprising as this group is more likely to have suffered interest rate declines on their deposits."
The trend to online banking and associated special deposit rates and less reliance on branches are likely some of the factors contributing to the improvement in satisfaction. “Despite the somewhat negative ratings that home loan customers are giving their banks, they still rate well above the ratings the business customers give them.
“The home loan customers of the big four banks have a satisfaction rating of 72.9% compared to only 64.3% for their business customers. With over 2 million business customers this is likely to be impacting adversely on their personal ratings of their banks,” he says.
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lschlesinger-FZcF9M3vE6

Big banks risk more unhappy customers by not passing on rate cuts in full: Roy Morgan

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AFG mortgage brokers wrote $2.2 billion worth of mortgages in January, the highest cumulative value on record for the group for the first month of the calendar year.

This was 24% higher than mortgages written by AFG in January 2012 of $1.82 billion - despite natural disasters in Queensland and NSW last month. 
Driving demand were strong levels of activity in WA and NSW. 
In WA mortgage volumes were somewhat higher than for NSW ($583 million compared with $569 million) with a variety of buyer types including first home buyers, upgraders and investors. 
AFG says NSW would have been even stronger except for the slump in first-home buyer demand by about two thirds since the withdrawal of first home buyer grants for established properties last September. 
“Borrowers seem to be responding to the combination of a more positive, global economic outlook, lower rates and enhanced affordability,” says Mark Hewitt, general manager of sales and operations at AFG.
 “These figures build on other statistics published recently showing an uplift in activity in property markets. But we shouldn’t lose sight of the fact that first home buyer activity in Queensland and NSW is only one third of the long term AFG average of around 15% of all home loans processed," he says.  Fixed rate loans fell to their lowest level since August 2011, comprising 16.3% of all new home loans with standard variable mortgages the most popular comprising two-thirds of loans arranged over January. 
Non major lenders (regional banks and non-bank lenders) managed to claw back some of the gains majors made last month, especially among first-home buyers, where they have 24.8% of this market. 
AFG bills itself as Australia's largest mortgage broker, writing one in 10 home loans in Australia through its broker members.
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AFG reports record January figures with $2.2 billion of mortgages approved

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The number of Sydney residential properties listed for sale in January fell by 6% following a 21.7% fall in December and are now at their lowest level since April 2010, according to figures compiled by SQM Research. 
In total there are 23,467 Sydney properties listed for sale compared with 31,863 two months ago with listings down 13.1% over the past 12 months. 
SQM Research director Louis Christopher says seasonality has an impact on January figures – he expects a rise in listings in February as the market gets into full swing – but says year-on-year figures show the market is still down. 
Click to enlarge
<a title="Click to enlarge" rel="shadowbox" href="/images/stories/2013/02/sqmfeb4.gif"><img src="/images/stories/2013/02/sqmfeb4thumb.gif"></a>
Notwithstanding the impact of seasonality, Christopher says the fall in Sydney listings in January is both noteworthy and surprising; SQM had been expecting a bounce in listings in the first month of the year. 
“We are saying the market bottomed out in the December quarter,” Christopher tells Property Observer.
SQM recorded a 1.9% fall nationally over January with 335,429 properties listed for sale compared with 341,784 in December. Listing are down 2.9% on a year ago when there were 345,296 listings.
All capital city residential listings declined over January with Melbourne listings down 2.5%. 
However, Melbourne is the only market where stock on market is up compared to a year ago. 
There are 40,807 properties listed for sale in Melbourne compared with 40,076 a year ago. 
Christopher says people should not read too much into the Melbourne decline in January. 
“There is still an elevated amount of stock on market. Signs are more promising, but a lot of stock needs to be absorbed, for there to be price pressure,” says Christopher.
Year-on-year, Darwin residential listings have fallen by 15% to just over 1,000 properties for sale, with strong annual declines also recorded for Adelaide (7.1%) 
Both Hobart and Adelaide recorded 4.2% falls over January, but Christopher says he is not expecting any major recovery in these markets. 
“There is elevated stock on market that must be absorbed in Hobart and Adelaide,” says Christopher. 
“The bottom may be coming in but overall they are depressed,”
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Sydney property listings fall by 'surprising' 6% in January to lowest level since April 2010: SQM

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Tomorrow the Reserve Bank’s monetary policy committee meets for the first time in 2013 to decide whether to adjust the cash rate. 
The majority of economists expect the cash rate to remain on hold – 24 out of 28 economists <a href="/news">polled by Bloomberg</a> last week said so on the back of house prices rising in January and unemployment still low.
The cash rate stands at 3%, with the lowest advertised variable rate on offer being 4.99% from lender Easy Street, owned and operated by Sydney-based Community First Credit Union.
For borrowers intent on refinancing with a major bank brand, UBank, the online offering of NAB, has a refinancing variable rate of 5.12%.
Non-bank lender homeloanHQ, with loans underwritten by a major bank, is offering three-year fixed fixed-rate home loan at 4.99%.
These are the lowest advertised mortgage rates based on listings by <a target="_blank" href="https://www.ratecity.com.au/">ratecity.com.au</a>, <a target="_blank" href="https://mozo.com.au/">Mozo.com.au</a>,  <a target="_blank" href="https://www.infochoice.com.au/">infochoice.com.au</a> and <a href="https://www.homeloanfinder.com.au/">homeloanfinder.com.au</a> as of February 4:
Where the headline rate is the same, the lender with the lowest comparison rate gets preference.
Lowest variable rate offerings:
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="134">
Provider
</td>
<td valign="top" width="124">
Loan name
</td>
<td valign="top" width="97">
Rate
</td>
<td valign="top" width="116">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="134">
Easy Street
</td>
<td valign="top" width="124">
Honeymoon Home Loan Special
</td>
<td valign="top" width="97">
4.99%
</td>
<td valign="top" width="116">
5.77%
</td>
</tr>
<tr>
<td valign="top" width="134">
Loans.com.au
</td>
<td valign="top" width="124">
Blackboard Special
</td>
<td valign="top" width="97">
5.09%
</td>
<td valign="top" width="116">
5.11%
</td>
</tr>
<tr>
<td valign="top" width="134">
UBank
</td>
<td valign="top" width="124">
UHomeLoan - refinance variable loan with a special upfront discount of 0.25%p.a.
</td>
<td valign="top" width="97">
5.12%
</td>
<td valign="top" width="116">
5.12%
</td>
</tr>
</tbody></table>
Lowest one-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="137">
Provider
</td>
<td valign="top" width="123">
Loan name
</td>
<td valign="top" width="95">
Rate
</td>
<td valign="top" width="114">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="137">
ME Bank
</td>
<td valign="top" width="123">
Member Package SMHL Standard Home Loan
</td>
<td valign="top" width="95">
4.99%
</td>
<td valign="top" width="114">
5.62%
</td>
</tr>
<tr>
<td valign="top" width="137">
Resi
</td>
<td valign="top" width="123">
Flexi Fix Plus 75
</td>
<td valign="top" width="95">
4.99%
</td>
<td valign="top" width="114">
5.90%
</td>
</tr>
<tr>
<td valign="top" width="137">
Newcastle Permanent
</td>
<td valign="top" width="123">
Residential Fixed One year
</td>
<td valign="top" width="95">
4.99%
</td>
<td valign="top" width="114">
5.95%
</td>
</tr>
</tbody></table>
Lowest three-year fixed-rate offerings
<table width="470" cellpadding="0" cellspacing="0" border="1"><tbody>
<tr>
<td valign="top" width="131">
Provider
</td>
<td valign="top" width="131">
Loan name
</td>
<td valign="top" width="96">
Rate
</td>
<td valign="top" width="111">
Comparison rate*
</td>
</tr>
<tr>
<td valign="top" width="131">
homeloanHQ
</td>
<td valign="top" width="131">
Rate Lock Home Loan
</td>
<td valign="top" width="96">
4.99%
</td>
<td valign="top" width="111">
5.53%
</td>
</tr>
<tr>
<td valign="top" width="131">
eMoney
</td>
<td valign="top" width="131">
Pro Pack 75 – 3 Year Fixed Rate Home Loan
</td>
<td valign="top" width="96">
5.00%
</td>
<td valign="top" width="111">
5.67%
</td>
</tr>
<tr>
<td valign="top" width="131">
Resi
</td>
<td valign="top" width="131">
Flexi Fix Plus 75
</td>
<td valign="top" width="96">
5.12%
</td>
<td valign="top" width="111">
5.81%
</td>
</tr>
</tbody></table>
*A comparison rate includes both the interest rate and the fees and charges relating to a loan, combined into a single percentage figure.
For information on refinancing, watch our free webinar <a href="/news">The Do's and Don’ts of Refinancing Your Existing Home Loan ... and How to Avoid Unnecessary Hurdles</a>.
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February RBA interest rate decision: A guide to the lowest rate home loan offerings as of February 4

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Perth residential property prices kept up with inflation over the December 2012 quarter, rising by 2.3%, with increased first-home buyer activity and a tight rental market key factors, according to the Real Estate Institute of Western Australia (REIWA).
House prices gained 3% or $15,000 over the quarter to a median of $495,000, while units rose a more modest 2% to a median of $410,000.
Perth house prices are now just $7,500 off their March 2010 peak, with REIWA president David Airey saying strong first-home buyer activity meant that many people looking to sell an existing home and move on "had a ready pool of eager buyers". 
“Strong first-home buyer activity is a terrific stimulus for the entire housing system," says Airey.
“This scenario is reflected in the fact that that the top two suburbs for price growth in the December quarter were outer-suburban, affordable Calista and gentrified, upper-market Mount Lawley,” he says.
Other Perth’s key housing statistics are trending in the right direction, indicating that forecasters are correct in predicting the WA capital to be the top-performing capital city in 2013.
The number of selling days decreased from 71 to 62; the number of sellers dropping their asking price has fallen from almost 60% to around 55%, with dwellings sales across the state estimated at 11,600 for the quarter – around 15% up on the same time last year.
The REIWA also anticipates the Perth rental market will tighten from its current already tight vacancy rate of 1.9% in the March quarter. The median rent remained unchanged at $450 per week over the quarter.
Top 10 suburbs over December quarter
<table cellpadding="0" cellspacing="0" border="1" style="width: 470px;"><tbody>
<tr>
<td valign="top" width="243">
Suburb
</td>
<td valign="top" width="173">
Median sale price
</td>
<td valign="top" width="187">
Quarterly change in annual median
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Mt Lawley</a>
</td>
<td valign="top" width="173">
$1.02m
</td>
<td valign="top" width="187">
9.5%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Calista</a>
</td>
<td valign="top" width="173">
$265,000
</td>
<td valign="top" width="187">
8.4%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">West Leederville</a>
</td>
<td valign="top" width="173">
$975,000
</td>
<td valign="top" width="187">
7.7%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Middle Swan</a>
</td>
<td valign="top" width="173">
$332,000
</td>
<td valign="top" width="187">
7.1%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Shenton Park</a>
</td>
<td valign="top" width="173">
$1.07m
</td>
<td valign="top" width="187">
6.5%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Madeley</a>
</td>
<td valign="top" width="173">
$550,000
</td>
<td valign="top" width="187">
5.8%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Edgewater</a>
</td>
<td valign="top" width="173">
$490,000
</td>
<td valign="top" width="187">
5.7%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Osborne Park</a>
</td>
<td valign="top" width="173">
$532,500
</td>
<td valign="top" width="187">
5.4%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Mt Claremont</a>
</td>
<td valign="top" width="173">
$1.22m
</td>
<td valign="top" width="187">
5.3%
</td>
</tr>
<tr>
<td valign="top" width="243">
<a target="_blank" href="/news">Carine</a>
</td>
<td valign="top" width="173">
$731,250
</td>
<td valign="top" width="187">
5.2%
</td>
</tr>
</tbody></table>
Source: REIWA
The upper-crust inner-northern suburb of Mt Lawley was the top performer over the quarter and the year, with median house prices up 9.5% to $1.02 million from 90 sales.
Mt Lawley is also the top-performing suburb for the calendar year, with house prices up 19.6%.
Last year, residents of Mt Lawley were up in arms when it was revealed that McDonald's planned to open a restaurant in a popular spot – it was later declared a hoax.
Recent sales include a three-bedroom house on First Avenue, Mt Lawley, that sold for $1.07 in November last year having previously sold for $879,000 in January 2011 – annual price appreciation of around 11%.
The highest price recorded over the year in Mt Lawley was $3.025 million paid for a three-bedroom <a href="https://homesenvogue.com.au/2012/01/for-sale-73-farnley-street-mount-lawley-wa-6050/">Art Nouveau home built circa 1913</a> at 73 Farnley Street featuring custom-designed stained-glass windows in nearly every room of the style of the architectural period.
The second best performing suburb over the quarter was the blue-collar outer-southern suburb of Calista, where house prices rose 8.4% over the year to a median of $265,500 from 36 sales. House prices in Calista were down 1.7% for the year.
“The lift in median price was due to a welcome surge in turnover with more expensive properties, particularly in the $600,000 - $700,000 range,” says Airey.
In contrast to the struggling Melbourne land market, preliminary estimates indicate Perth will record nearly 12,000 land sales for the 2012 year, which is a 37% increase on 2011. The southwest and northwest corridors accounted for half the sales.
The Urban Development Institute of Australia (UDIA) said the biggest developers in Perth recorded a 23.4% rise in land sales over the December quarter
The south-west corridor, covering the Cockburn and Rockingham-Kwinana regions, is the most affordable area in Perth in which to buy land, with an annual median of $210,000.
“By contrast, the median land price in the northwest corridor, covering the Joondalup and Wanneroo local authorities was higher at $240,000 across last year, while a median of $394,000 was determined for blocks that are within roughly ten kilometres of the CBD,” says Airey.
Aerial photo of Mt Lawley by Dan Woods, courtesy of <a href="https://www.flickr.com/" target="_blank">Flickr</a>.
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Upmarket Mt Lawley and blue-collar Calista lead 2.3% gain in Perth property prices in December quarter: REIWA

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The number of dwellings approved for construction fell 4.4% in December in seasonally adjusted terms, following a rise of 3.4% in the previous month.
Over the calendar year, dwelling approvals are up 9.3% with units up 31.7% but houses down 3.8%.
Westpac says the fall in December building approvals provided a weaker than expected finish to 2012 with market expectations of a 1% gain in December and Westpac's forecasting a 1% decline.
Approvals for private sector houses fell 3.3% in December while unit approvals fell 5.4%.
The fall in private sector house approvals was led by Victoria (-12.7%) and Western Australia (-2.2%), but approvals rose in South Australia (9%), Queensland (5.2%) and New South Wales (1.2%).
South Australia, Queensland and NSW all have state incentives favouring first-home buying buying or building a new home or apartment.
Westpac says the sharp drop in private sector house approvals concentrated in Victoria, suggests the December figures should be treated with some caution.
"The significance of the weak December approvals reading hinges on how the Victoria numbers are interpreted. 
"On the one hand there may have been a significant policy-induced 'hole' in approvals in the month.
"The Victoria state government changed its incentives for first-home buyers in 2012 from a grant of up to $13,000 to significant stamp duty concessions (both only available on properties up to $600,000).
"The gap may have encouraged many to delay building, particularly late in the year. 
"However, this explanation doesn't quite hold together - state figures on housing finance approvals suggest FHB activity held up in Victoria late last year, despite the transition.
Other indicators – consumer sentiment towards housing and house price expectations – did fall away in Vic compared to other states. 
"Adding to the puzzle is the tendency for upward revisions to approvals estimates due to late arriving data - this may be more of a factor around the Dec-Jan period.
"However, the transition period was not smooth with the grant phasing out at the end of June and stamp duty concessions coming into effect in January.
"The gap may have encouraged many to delay building, particularly late in the year," says Westpac.
Across both house and units, dwelling approvals decreased in December in Tasmania (-21.8%), Victoria (-12.3%) and New South Wales (-1.3%) but increased Queensland (7.9%), South Australia (1.7%) and Western Australia (1.3%) in seasonally adjusted terms.
The value of total building approved fell 1.9% in December, in seasonally adjusted terms, and has fallen for three months.
The value of residential building fell 3% while non-residential building rose 0.1%
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Building approvals fall 4.4% in December, up 9.3% for 2012: ABS

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<img src="/images/stories/2013/02/knightfranklogo.jpg" width="470" height="69" alt="knightfranklogo">
Richard Horne is Knight Frank's managing director for NSW, specialising in office transactions above $30 million. He  says Australian super funds are becoming more relevant as direct players in Sydney commercial real estate, while enquiries from Chinese buyers are also rising.
<img src="/images/stories/2013/02/RichardHorne1.png" width="205" height="225" alt="RichardHorne1" style="margin: 5px; float: left;">
How long have you been in the industry?
I started my career in 1991 in Bristol, UK.  There I started as a valuer and then moved into agency after 18 months with the Bristol office of Chesterton.  I moved to Australia in 1995.
What’s happening in the area you specialise in?
I specialise in office investment, primarily the Sydney CBD of $30 million plus.  Times have been challenging at the larger end of the office market.  There have been few large deals with buyers struggling to get debt, generally conservative on sentiment and in particular building potential capital expenditure (capex) has been an impediment to many deals.
Signs are promising moving forward however, with the institutions starting to buy again and interest rates coming down.
Locally the Australian super funds are becoming more relevant as direct players.  Offshore, we’re starting to notice China more, with significant enquiries from China on our last two campaigns. 
Describe the most interesting property you have sold
I worked in New Zealand for five and half years, and in my first year put together a portfolio of buildings in Wellington tailored towards Australian investors.  This was interesting because I was dealing with a completely different market, a local private owner and a portfolio of very different properties. 
What are the ingredients to being successful in your job?
Being a successful agent might seem easy to many, but I believe it’s one of the hardest nuts to crack in the property sector.  The key ingredients to being successful are:
<ul>
<li>A focused approach,</li>
<li>The ability to develop excellent client relationships;</li>
<li>Not over-complicating things and being able to think clearly;</li>
<li>Thick skin and a degree of self-belief/confidence; and</li>
<li>Probably most importantly, you can’t afford to take yourself or any deal too seriously.</li>
</ul>
What aspects of your role do you enjoy the most?
I really enjoy thinking laterally about a deal and making it happen. Putting mutually compatible partners together is becoming increasingly relevant, and this is very enjoyable. On the management side of things I find it very rewarding to see younger staff, particularly with a good attitude, flourish in their careers. 
Where would invest a spare $750,000?
I’d put it towards my dream beach house, probably in New Zealand or Cornwall (UK). 
Which football team do you support?
Liverpool Football Club (UK) 
What’s your favourite app or techno gadget?
Viber, for long-distance phone calls back to family in the UK, and Run Keeper App, for tracking runs. 
How do you use social media?
I’m increasingly seeing the benefits of LinkedIn and exploring ways to improve this. I don’t mind admitting I’m not a fan of Facebook.
</body></html>

In profile: Sydney CBD office investment specialist Richard Horne

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The Reserve Bank will leave the cash rate on hold at 3% when it meets on Tuesday (February 5), according to the overwhelming majority of economists polled by Bloomberg.
Out of 28 economists surveyed, 24 expect the cash rate to remain unchanged in the first monetary policy meeting of the year.
Looking beyond February, economists are divided on the cash rate outlook with just over half (15 out of 28) expecting rates to remain unchanged in March.
Beyond that the median forecast is for a cash rate of 2.75% in the second-half of the year - suggesting at least one more rate cut.
However forecasts differ widely from 2% to 3.5% between now and year-end.
ANZ and Macquarie Bank tips a cash rate of 2% by year-end.
The Commonwealth tips a 3% cash rate by year-end, Westpac says 2.75% and NAB, 2.25%.
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RBA to leave cash rate on hold next week say economists: Bloomberg

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The latest housing data has confirmed News Limited economist Stephen Koukoulas’s belief that house prices will rise around 10% in 2013. 
Adding to this data, Koukoulas believes that a trifecta of factors - low interest rates, high immigration and improved affordability – make such a price rise "close to certain”. 
Speaking on the ABC's Inside Business yesterday, Koukoulas said he thought house prices were set for a strong up trend.
"We have had a bigger improvement in affordability in the last two to three years following what was clearly excessive house price growth up until the last few years.
"We have about 12% wages growth, house prices are about 5% off their peak and interest rates are very low, so affordability has improved dramatically," he says.
Helped by growing migration and a lack of houses being built in the past, he expects housing to do "particularly well".
January housing data released by RP Data has house prices up 1.2% over January with all the major capital cities recording gains over the month, <a href="/news">led by Brisbane, Perth and Sydney</a>. 
Also last week, The Housing Industry Association’s reported new home sales rose 6.2% in December after rising 3% in November and 3.6% in October. 
“That is a thumping 13% lift in sales in the final three months of 2012, an impressive lift after home sales were in the doldrums around the middle of last year,” said Koukoulas in his latest column for Business Spectator. 
Other signs that housing is on track for double-digit growth in 2013, says Koukoulas is home building approvals (indicators of future construction) are lifting. 
“From the low in April 2012, the number of approvals has lifted more than 20% which points to the housing making a decent contribution to GDP growth, he said. 
Koukoulas also points out that the share price in companies related to the home building industry “have skyrocketed in recent times” including building materials provider Boral up 60% since the middle of 2012 and commercial property developer Leighton Holdings up nearly 50% over the same period. 
“The housing sector is set for a strong performance in 2013. 
“There are likely to be strong rising house prices, higher home sales and a lift in construction," he says.
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House prices to rise 10% this year as part of upward trend: Koukoulas

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Mortgage lender RAMS has waived application fees and settlement fees for first-home buyers as part of a new campaign aimed at helping them move from renting to buying.
The campaign is being promoted by a new television commercial, which aired for the first time last weekend.
RAMS has also waived the account keeping fees on its RAMS Low Rate Home Loan with Introductory Rate Option, during the introductory rate period.
According to the lender, this could save first-home buyers up to $1,590 in fees.
“We understand the frustrations of FHBs who tell us they are in a rental rut and are delaying purchasing a property due to their inability to afford repayments and fears of unemployment in an uncertain economy," says RAMS chief executive Melos Sulicich.
“We have listened to their concerns and created genuine options designed to renew first-home buyer confidence and reignite their passion and drive to take the first step to home ownership."
RAMS says it is also helping first-home buyers by requiring only a 5% deposit with a full-doc loan (plus funds to cover transaction costs), if they meet our other lending criteria.
The lender has also cut its two-year fixed rate from 5.39% to 5.25%.
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RAMS waives fees for first-home buyers

<a href="https://www.apartments.com.au/developments/broadbeach-qld-4218">Broadbeach</a> offers plenty of reasons to live vertically, but moving from a substantial family home into an apartment can expose the compromises of high-density living. Privacy, room for guests and usable living space tend to matter more when an apartment is intended as a permanent home rather than an occasional coastal base.

A typical residential floor at <a href="https://www.apartments.com.au/new-apartments/the-eveleigh-broadbeach-7-9-surf-parade-broadbeach-qld-4218">The Eveleigh</a>, on Surf Parade,&nbsp;contains just four apartments. The 94-residence development by <a href="https://www.apartments.com.au/developers/hirsch-faigen">Hirsch &amp; Faigen</a> is predominantly made up of expansive three-bedroom homes, with a limited collection of half-floor penthouses above.

Across the apartment floors, <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a> has used the relatively limited number of residences to give each home greater access to natural light and outlook. Living spaces extend towards full-height glazing, while a series of bay windows frame selected views across the Pacific Ocean, city and hinterland rather than treating the building edge as a continuous wall of glass.

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“The apartment floors deliver a collection of homes that embrace controlled outlook via a series of bay windows deliberately framing moments of view,” Rothelowman Director Kim Lowman said.

From outside, those projecting forms contribute to the tower’s faceted profile. Strong horizontal and vertical elements establish its proportions, while the changing position of the sun alters the light, shadow and reflection across the façade throughout the day.

The same attention moves inside the apartments, where the material palette combines warm timber, natural stone, metallic detailing and softer curved forms. Kitchens sit within the main living zone, with stone island benches, integrated joinery and European appliances, before the living areas extend towards the glazing and the outlook.

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Three genuine bedrooms provide room to accommodate family and guests, while two secure car spaces and storage address some of the practical considerations that can become more noticeable when moving from a larger home. Feedback from the display suite has centred on the warmth and restraint of the interiors, with buyers commenting that the residences feel like homes rather than conventional coastal apartments.

A limited collection of half-floor penthouses occupies the upper levels, increasing the scale of the living spaces and adding private balconies and elevated finishes. From this position, the outlook extends between the ocean and hinterland.

Outside the private residences, The Eveleigh separates its shared spaces between the podium and rooftop. The podium is centred on wellness, with subtropical landscaping surrounding a swimming pool and pool terrace, yoga garden, private gymnasium, sauna and hot and cold plunge facilities. Landscaped retreats and pavilions provide additional places to sit away from the main recreation areas.

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Higher in the building, a rooftop pavilion and private dining suite sit alongside resident lounge, barbecue and outdoor dining areas, opening towards panoramic views across the ocean, city and hinterland.

“Buyers are no longer just looking for an apartment, but a lifestyle where they can relax, reset, and enjoy a balanced way of living,” Hirsch &amp; Faigen Director of Sales Matt George said.

Interest to date has come from established owner-occupiers and interstate lifestyle purchasers, including buyers planning a future move to the Gold Coast. Many are coming from larger homes and want to reduce ongoing maintenance without giving up space for family and guests, privacy, two car spaces or the ability to entertain at home.

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Much of that daily life can also take place beyond the building without requiring a drive. Kurrawa Beach and Pratten Park are an easy walk from Surf Parade, while Pacific Fair, Oracle Boulevard, The Oasis, restaurants, cafés, entertainment and public transport are also within walking distance.

The Eveleigh is Hirsch &amp; Faigen's fourth Gold Coast development since entering the market in 2021, following The Hemingway at Palm Beach, The Emerson at Kirra and Yves at Mermaid Beach. Each of the preceding projects sold out before completion.

“Broadbeach had been on our radar throughout our time operating on the Gold Coast,” the developer said. “Following our projects in Palm Beach, Kirra and Mermaid Beach, Broadbeach represented the natural next step for the business.”

The Surf Parade site brought together proximity to the beach, protected coastal outlooks and walkability to dining, shopping and recreation. Hirsch &amp; Faigen also identified the street as an emerging premium residential address, with enough separation from Broadbeach's busier destinations to retain a quieter environment at home.

The Eveleigh is now under construction by Maxcon, with completion forecast for mid-2028. Three-bedroom residences are currently available from $2.87 million.

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Joel Robinson

The Eveleigh brings house-like apartments to Broadbeach

A long-stalled Campbelltown development site is back in play, with new plans for 139 apartments set to supersede a mixed-use scheme approved almost a decade ago but never built.

The new proposal for 28 Cordeaux Street would deliver 116 market and 23 affordable apartments in a part 14-storey building, bringing a substantial new project into a Campbelltown market where new apartment supply remains limited.

Plans have been filed over the 3,092 sqm corner site at Moore-Oxley Street, around 600 metres from Campbelltown Railway Station and the city-centre retail core.

The site already carries a mixed-use residential approval dating to 2016. Doroch Architects has now been engaged on a larger replacement scheme, which is progressing as a State Significant Development Application following a Housing Delivery Authority determination in August 2025.

The apartment mix comprises 39 one-bedroom, 72 two-bedroom and 28 three-bedroom residences. Two-bedroom apartments make up just over half of the project, while three-bedroom homes account for 20 per cent.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="136dd5b9-3791-4da6-9e31-76f533f5b4de" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da2.png?VersionId=LgOSy9nwf5u.MGswBBwaGGxuX8QpHSl_" />

Of the 139 apartments, 23 will be delivered as affordable housing under the in-fill affordable housing provisions of the Housing SEPP. The affordable component represents 15 per cent of the residential gross floor area and will be managed by a registered Community Housing Provider.

Doroch has sought to break the scale of the building into two distinct elements, with a masonry podium of around four storeys establishing the street edge before the residential tower steps back above.

The corner position has shaped that approach. Cordeaux Street faces toward the commercial and civic centre, while Moore-Oxley Street leads into the lower-scale residential neighbourhood to the south, and the design verification report describes the site as "bridging the commercial core to the north and established residential areas to the south."

The podium will be expressed predominantly in face brick, while the upper levels shift to brushed and grooved concrete cladding with darker metal detailing. Recessed sections, deep balcony edges and landscaping break down the upper form, with an approximately 11.8-metre setback to the northern boundary addressing the adjoining St Peters Anglican School.

<img alt="First look: New 139-apartment plans revive long-stalled Campbelltown city centre site" data-entity-type="file" data-entity-uuid="c8b3d2d3-c561-4bfc-a5d9-a68c0c10dac1" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Campbelltown%20da1.png?VersionId=AeAEyJU02Gk2k5noUj2StziCvdQ7fW4B" />

Campbelltown has been starved of new residential developments in the last decade.

The only other notable development set to come to market this year is ALAND's Queen Square, a mixed-use precinct on over two hectares that will comprise apartments above a vibrant ground-level retail and hospitality dining precinct.

First look: New 139-apartment plans revive long-stalled Campbelltown city centre site

First Look: Sherlock Construction pitches apartments for low-rise Deception Bay

Queensland builder-developer MAYD has revealed the first look at its major North Kirra beachfront development, lodging amended plans that reduce the number of apartments and increase the proportion of larger residences.

The project is planned across a substantial 4,742 sqm amalgamated site spanning seven lots at <a href="https://www.apartments.com.au/new-apartments/2-6-pacific-parade-bilinga-qld-4225">2-6 Pacific Parade</a> and 27-33 Golden Four Drive in Bilin​ga, directly opposite Nor​th Kirra Beach.

<a href="https://www.apartments.com.au/developers/mayd-group">MAYD</a> secured the site for $32.5 million in 2025, in what was one of the Gold Coast's largest property transactions of the year.

The development will be delivered across two stages, with the first stage carrying an estimated gross realisation value of around $360 million.

The latest amendments seek to reduce the overall apartment count and shift the project further toward the owner-occupier market, with larger residences designed for buyers wanting considerably more space than traditionally offered in a beachfront apartment.

The residential mix will include townhomes, oversized two-bedroom apartments, substantial three-bedroom residences and four-bedroom homes.

MAYD has appointed Cera Stribley to lead the architecture and interiors, with the Melbourne-based design practice drawing on the beachfront setting through a series of ocean-facing terraces and heavily landscaped balconies.

Strong horizontal forms and curved balconies will define the exterior, with subtropical landscaping integrated throughout the building to soften the built form and increase the connection between the residences and the beachfront.

The project will also include an extensive collection of resident wellness and lifestyle facilities, continuing the broader shift across the Gold Coast's luxury apartment market toward larger homes supported by resort-style amenity.

<img alt="MAYD" data-entity-type="file" data-entity-uuid="d1bcbb05-e659-4b47-8bd4-1e595315e2ad" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-27%20at%202.05.03%E2%80%AFPM.png?VersionId=jj0XEud1X1DuLt7_KyElhjMdZGOXmLHP" />

MAYD Founder Todd Mould said North Kirra was increasingly appealing to buyers attracted to the more established, lower-density character of the southern Gold Coast.

"North Kirra presents one of the most compelling luxury residential opportunities currently emerging in Australia, combining absolute beachfront with the character and authenticity that buyers are increasingly seeking, and the same sense of tight-knit community that defined Burleigh and Currumbin perhaps 10 or 15 years ago," Mould said.

"With Gold Coast Airport on its doorstep, it also offers a level of accessibility that broadens its appeal across almost every market demographic."

The project comes as the southern Gold Coast continues to attract an increasing share of high-end apartment development and buyer activity.

Kirra in particular has emerged as one of the region's more tightly held beachfront markets, with its relatively low-density character, established surf and hospitality scene and proximity to Gold Coast Airport differentiating it from the higher-density markets further north.

Mould said those characteristics had informed the approach MAYD and Cera Stribley had taken to the project.

"We've worked closely with Cera Stribley to create a vision that is deeply connected to its surroundings," he said.

"Inspired by the coastline itself, the architecture has been shaped around space, privacy and resort-style living, creating a collection of homes that reflects the next generation of luxury on the southern Gold Coast."

MOTIV Managing Director Carly Cottam, who has been appointed to market the project, said buyer attention had continued to move south along the Gold Coast.

"Purchasers who may once have defaulted to Broadbeach, Main Beach or Surfers Paradise are increasingly recognising the value of a genuine beachfront location that offers lower density, strong amenity and a more established sense of community," Cottam said.

"Kirra has a powerful combination of growing demand and genuine scarcity. Beachfront supply is inherently constrained, the area remains relatively low density, and buyers are increasingly placing a premium on locations that feel established, uncrowded and authentic rather than heavily developed."

Cottam said the proximity to Gold Coast Airport was also proving increasingly important for interstate and second-home buyers.

"Being minutes from Gold Coast Airport makes it particularly compelling for interstate buyers, frequent travellers and second-home purchasers who can access an authentic coastal lifestyle almost immediately after stepping off a flight."

The acquisition takes MAYD's active development portfolio to more than $500 million, with the North Kirra project representing one of its largest undertakings to date.

MAYD is targeting an early 2027 launch.

First look at MAYD's North Kirra mixed-use precinct

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Castle Hill, the longtime hub of the Hills District, has been one of the major beneficiaries of Sydney's Metro expansion, with improved connectivity helping drive continued population growth, development and buyer demand across the Hills District.

But despite that growth, the suburb has seen relatively few major new apartment projects brought to market over the past 18 months.

Hills District developer Reve Group is looking to fill that gap with <a href="https://www.apartments.com.au/new-apartments/nova-r-ve-castle-hill-2-garthowen-crescent-castle-hill-nsw-2154">Nova Rêve</a>, a major new mixed-use precinct on the corner of Garthowen Crescent and Old Castle Hill Road, a short walk from Castle Hill Metro Station and Castle Towers.

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The project will comprise three residential towers alongside a hotel, restaurants, cafes and a skybar, more than 1,600 sqm of ground-floor retail and almost an acre of landscaped gardens.

It represents the largest project undertaken by Reve Group, the development arm of the Kassis family, which has been building across the Hills District for more than 30 years through Kassis Homes.

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Nova Rêve also represents a significant step up from the family's first apartment development, Grand Rêve, which was delivered nearby on Garthowen Crescent.

Grand Rêve introduced larger, house-like apartment layouts and premium inclusions including Wolf and Sub-Zero appliances to the Castle Hill market.

Nova Rêve takes that approach to a precinct scale, combining the residential component with hospitality, retail and substantial public and resident landscaping.

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Reve Group Managing Director Sam Kassis said the project reflected the family's three decades of building in the Hills, which has evolved from trophy homes on quarter-acre blocks to larger-scale apartment development.

"Grand Rêve was our first apartment project here and it showed us what this pocket of Castle Hill could be. Nova Rêve is the refinement of that idea: not just apartments, but a place the whole suburb can use," Kassis said.

A key part of that approach is the hotel, which has been designed to operate as an amenity for the wider Castle Hill community rather than solely hotel guests.

It will include restaurants, cafes, skybars and all-day dining, alongside conference and event facilities catering to business functions, community groups and private events.

At ground level, more than 1,600 sqm of shops and cafes will open onto the surrounding streets and landscaped areas.

Almost an acre of gardens designed by Land and Form Studios will run through the precinct, incorporating pathways, seating, barbecue areas and children's play spaces.

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Reve Group's Romio Georges said creating an active ground plane had been central to the planning of Nova Rêve.

"There are gardens with pathways, barbecues, seating and play areas, shops and cafes opening onto the street, and a hotel with restaurants and a skybar that anyone in Castle Hill can walk into," Georges said.

The project's elevated position on one of Sydney's highest ridgelines will also provide apartments with outlooks toward the Sydney skyline, surrounding parkland and the Blue Mountains.

More than 80 per cent of the apartments will occupy corner positions, with Turner responsible for both the architecture and interiors.

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Larry Schlesinger

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